In India, the price of Tether's USDT stablecoin surged to a premium of over 8.5% above the official USD/INR exchange rate, reaching 102.88 rupees compared to the official 94.65 rate. This sharp rise from the usual 3-4% premium reflects a sudden shortage of USDT supply amid strong local demand for dollar exposure, driven by India's large crypto market and heavy taxes on crypto gains. USDT acts as a dollar substitute for Indian traders avoiding rupee conversions and fees, causing the premium to represent a hidden cost and stress in the market. The premium also highlights India's strict foreign currency controls, and it remains to be seen if new USDT supply will ease the gap or if the premium signals deeper market frictions.
Mowi ASA has agreed to sell its Canada East salmon farming operations, totaling 9,000 GWT, to Cooke Inc. for CAD 225 million. This divestment aims to streamline Mowi's farming portfolio and concentrate on its main farming areas. The sale is expected ...
Sigenergy has started construction on Phase II of its Nantong Intelligent Energy Center and a new joint venture production facility with Xianghua Hardware Technology. This expansion will increase its manufacturing base to nearly 400,000 square meters...
JPMorgan Chase announced a 10% increase in its dividend alongside a new $50 billion share buyback program. This move follows the bank successfully passing the Federal Reserve's stress test, signaling strong financial health. The dividend hike and buy...
Ero Copper Corp. held its Annual General and Special Meeting of Shareholders with 82.98% of shares represented. Shareholders re-elected all ten directors, re-appointed KPMG as auditor, and approved amendments to the company's stock option and share u...
Michael Saylor's company Strategy has shifted its approach by launching a $2 billion share buyback plan and authorizing a one-time Bitcoin monetization program. This allows the company to sell some of its Bitcoin holdings to strengthen cash reserves,...
